Tradeweb Markets Reports 8.2% YoY Increase in Q3 Revenue

Online fixed income trading platform Tradeweb Markets has reported its financials for the third quarter of 2022, revealing a solid growth across all key metrics.

More specifically, the company reported a revenue of $287.1 million, 8.2% higher than the year-ago period. The average daily volume (ADV) for the quarter came in at $1.1 trillion, up 14% compared with last year. Net income stood at $81.6 million, increased by 24.9% compared to the equivalent period in 2021. Adjusted net income reached $106.5 million, showing an increase of 13.1% on a YoY basis.

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In addition, operating expenses of Tradeweb for Q3 totalled $184.3 million, increased by 2.5% from the Q3 2021's $179.8 million. Diluted EPS grew to $0.33. That was a jump of 26.9% year-over-year when compared with the same quarter of the previous year. 

Moreover, the company generated an adjusted EBITDA margin of 51% or an adjusted EBITDA of $146.3 million. These numbers for the prior year period are 50.1% or $132.9 million respectively.

As Fazzaco previously reported, Tradeweb announced its collaboration with S&P Global Market Intelligence​ to introduce electronic connectivity between primary and secondary markets. The product scope currently includes European credit, covered, sovereign, supranational and agency (SSA) bonds.